Isis Pharma in diabetes drug development deal with J&J's Ortho-McNeil |
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Thu, 13 Sep 2007 12:32
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LONDON (Thomson Financial) - Isis Pharmaceuticals Inc has announced a broad collaboration with Ortho-McNeil, Inc, a Johnson & Johnson company, to discover, develop and commercialise antisense drugs to treat metabolic diseases, including Type 2 diabetes.As part of the collaboration, Isis will grant Ortho-McNeil worldwide development and commercialisation rights to two of its diabetes development candidates, ISIS 325568 and ISIS 377131.Additionally, Ortho-McNeil will provide funding to Isis to support the joint discovery of novel drugs to treat metabolic diseases, including diabetes and obesity.After the initial collaboration phase, Johnson & Johnson Pharmaceutical Research & Development LLC will continue development of these drugs.Ortho-McNeil will pay Isis a 45 mln usd upfront licensing fee, and will provide Isis with research and development funding over the period of the collaboration.In addition to the licensing fee, Isis said it could receive over 230 mln usd in milestone payments upon successful development and regulatory approvals of the drugs, as well as royalties on sales.tf.TFN-Europe_newsdesk@thomson.comrwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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